ok, who is gonna pay the bill?
for the blackout.
It hasn't been mentioned too much, but the costs will be huge, and I mean huge.
the area affected is probably the most industrialized in the entire world.
Friday was totally lost, some factories in Ontario and the US have been shutdown, that includes 3 GM plants in Michigan. There are car factories in Ontario and all are closed
all 3 airports in NYC, Pearson Airport in Toronto, all were closed at least for a few hours and are still operating well below capacity. The tourism industry won't suffer, it will be killed, and the airlines: 9/11, war in Iraq, SARS and now this.
Nevermind that to restore the power they had to use emergency generators that are not efficient and not cheap, and it can take weeks until they can rely on normal sources.
Steel factories in Ontario are closed, that can interrupt essential supply to a lot of industries, particulary in the US.
And don't forget how heavily industrilized Pennsylvannia, Ohio, New York and Michigan are.
I wouldn't buy stock of insurance companies now. I think that in terms of cost (money, not human lives of course), this can be worse than 9/11.